Proposition 103: What is the Cost to Colorado Taxpayers?

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Introduction:
Proposition 103 is an initiative that will increase Colorado tax rates and require the state to spend the money on government schools. Prop 103 increases the personal income tax, the corporate income tax, and the statewide sales and use tax for the years 2012 through 2016.

The Fiscal Impact Statement prepared by Colorado’s Legislative Council Staff estimates the cost of the tax increase at $2.9 billion. However, the cost for Colorado taxpayers will be significantly greater than staff estimates. Legislative Council uses static analysis, measuring only the direct impact of the higher taxes on state revenue. They ignore the negative impact the tax increase will have on economic growth and jobs in Colorado.

3 Responses to “Proposition 103: What is the Cost to Colorado Taxpayers?”

Sounds like a very poorly written piece of legislation. Exactly how will the exact amount of the tax increase be determined so that it can be specifically applied to education? Since the latest national statistics show that the ratio of administrative personnel to actual teachers has increased from 3-1 to 1-1 over the last two decades, more money may likely be siphoned off for the pencil pushers. More money is of course never the answer ( all one has to do is look at sky high costs in places like Detroit, Washington, D.C., etc) since for the Libs it is never enough. This demand must be a product of the special interests teachers unions, eh?